Japan, rebuilding from the March 2011 earthquake and tsunami, is seeing strong growth in its residential-dominant photovoltaic (PV) solar market.
The photovoltaic (PV) solar markets in the Asia Pacific region overall are exceeding expectations, with 2.8 GW of capacity installed in the fourth quarter of 2011, for a 2011 total of 6 GW, according to the latest data from NPD Solarbuzz. The Asia Pacific PV market grew 165% from 2010 to 2011 and the research firm expects the market to grow 40% more in 2012.
In Japan - where residential installations make up 70% of the market – installations grew 30% in 2011 to 1.2 GW. The research firm expects the market in Japan to grow 40% more in 2012.
China grew 500% from 2010 to 2011, and in 2011 accounted for 48% of Asia Pacific installed capacity - 2.9 GW.
In India installations were up 125% in the fourth quarter of 2011 and the research firm said expects the market to approach 1 GW for all of 2012.
In Australia, where incentives have been reduced, installations were down 10% in the fourth quarter of 2011 and the research firm expects installations to be down as much as 20% in the first quarter of 2012.
Emerging PV markets in Asia include Thailand, Korea, and Taiwan, and the emerging markets had demand of 500 MW in 2011 – expected to be up 50% in 2012. New PV markets are likely to come into being in Malaysia and the Philippines.
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